El Moralito Group
Update on El Moralito GroupOlivia is 50 years old and from the community called Coatepec. She has been a member of the La Cabañita group for several years and her bakery business has improved because of the loans she’s gotten. She says that she makes bread every day and delivers it to different stores in her community. She buys her supplies in a store where the prices are lower and she makes many kinds breads of various types. She says that this loan will be very helpful because she will have more supplies to bake the delicious bread. The other members are Juana Guadalupe, Rosa Isela, Maria Felicitas, Ana Laura, María Virginia, Ana Lilia, Beatriz, Pablo and María Elena. They will use the money to buy cosmetics, clothing, and shoes to resell.
Previous Loan DetailsAna Laura is 30 years old. She says her favorite pastime is to go for a run in the afternoons to relive a bit of the stress of going from place to place. She belongs to a group called el Moralito and says that they chose this name because it is the name of the neighborhood where they live and… More from El Moralito Group's previous loan »
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid